Global NGS services market is expected to reach USD 2,921.4 million by
2023, supported by a CAGR of 20.1% during the forecast period of 2018 to
2023.

The global NGS services market is mainly driven by the factors such as
plummeting cost of sequencing, growing need of skilled professionals for
efficient NGS sample preparation and analysis, technological
advancements in NGS, increase in genome mapping programs, and high cost
of sequencing infrastructure. In addition, increasing applications in
cancer and agrigenomics research and need for analysis of complex
sequencing data provides significant opportunities for NGS services
providers. However, installation of in-house sequencing facilities in
hospitals and universities may hamper the growth of this market to some
extent.

Geographically, the global NGS services market is segmented into five
major regions, namely, North America, Europe, Asia-Pacific, Latin
America, and Middle East & Africa with a further analysis of major
countries in these regions. North America accounted for the major share
in the global NGS services market in 2017, followed by Europe and
Asia-Pacific.

The major share of the North American region is mainly attributed to the
increasing high burden of chronic and infectious diseases, increasing
R&D expenditure, and various favorable government initiatives. In
addition, the presence of many genomic services providers in this region
further propels the growth of this market. On the other hand,
Asia-Pacific region is projected to grow at the highest CAGR during the
forecast period, due to increasing population, rising rate of diseases,
growing outsourcing of research activities by the global players in this
region, and various government initiatives for the genomic research for
understanding the complex biological process and genetic mutation
present in life threatening diseases.

The geographic analysis provides detailed insights on the key trends of
the industry in the listed regions & countries, identifying the
demographic & economic impact, government & private investments, market
opportunities and forecast, and regulatory scenario. The geographic
analysis section also comments on the key market players shaping the
growth of the industry in the respective countries.